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20130117
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for us. >> i was noticing that since 1990, we have raised the debt ceiling 18 times. back in 1990 come the first time we raised it, the debt ceiling was $3.12 trillion. the debt ceiling is raised, the spending gets raised. and it never comes back down. >> that's right, it goes up and it never comes back down. in the past, sometimes we have insisted on cuts along the way. now we're finding ourselves in a position where we have $16.5 trillion of debt and cuts are not going to cut it anymore. it has to be more than cuts. it needs to be permanent structural spending reform. that's what we need. >> what john boehner headset is dollar for dollar. spending cuts with debt ceiling heights. what should they cut? give me a list. you might we talk about it from the standpoint of cuts, don't think cuts are going to do the job. we have to permanently reform the way washington spends money. >> okay, somebody want to to do that. >> we do that is through an approach that we referred to in the last debt limit debate is cat cut cabin balance for the short of it is to say that we can raise the debt limit
spending like nobody's business. you mess around with the debt ceiling i'm going tell you, buddy, the whole world, fiscally, economically and politically is going to come crashing down on your head. >> nobody wants to mess with the debt ceiling. what we want to do is to have a reasonable plan to raise the debt ceiling while getting on a path to balance. the only way to get spending cuts is to fight for spending cuts. the only way to have a debate is to debate. for the republican party to build in a bunch of assumptions about what the president will or won't do six weeks from now when we haven't even had a debate is putting the cart before the horse. let's say we'll raise the debt limit so when you go to college our fiscal house is in order. >> i want that debate. tony, you look at the "wall street journal" today a couple of important news articles. these are news articles. gop split on debt ceiling approach. that's one. some in gop, don't pay all the bills now. all right. debt default and prioritization. okay. prioritization in particular, tony, there's 80 million payments per month. can yo
something? >> if they don't raise the debt ceiling and let's say we get debt downgrades, the market has a fit basically and drops as they did in 2011, all our investments will get hit. the stock market will go down as it did in a big way in the summer of 2011. on the other hand, if they extend the limits, the debt ceiling limit and do something more, maybe not a grand compromise, something more in terms of deficit reduction, my guess is the market will kind of shrug it off. they won't get upset. the issue is in the end what happens in the run-up read the political run-up to the waiter with the market reacting as we are going down the wire because they will not default. the u.s. will not default on its debt. adam: you have the billionaire coke brothers urging the g.o.p. all kinds of g.o.p. senator saying we need not have this fight. wouldn't it be better for republicans since the issue is spending will agree it is spending, spending, spending. wait until march as our producer calls it the son of the fiscal cliff. say to the president okay. you want to fund spending? refunded if the suit
talking to people about the debt ceiling and the sequester fights saying we're going down the road of doom, the country is going to default. you know, boehner broke the hastert rule once because of larger necessity, and i don't think that doing that makes it any less likely is he going to do that. i really do think these guys as long as they get to take the vote that they want don't really necessarily -- this doesn't stand for all of them, but as a group they don't necessarily care. >> jonathan makes the point that on the sandy relief bill they did the same thing, which was register opposition, pass it with democratic help. i feel like that is sort of under mining short-changes thinking republicans, which is to say can you do this for two years? basically register opposition and then let democrats sort of push the legislation through and not have anybody clued into -- that's what you're doing? >> they really care about this. they're not making it up or fake it. they really, really think that it would be better not to raise the debt ceiling, and so what you do is let the democrats on it. we
't go down to the wire and contest the debt ceiling increase. all these things have swept away a lot of nagging concerns and the next thing to worry about is people don't know exactly what the next thing to worry about s is. >> let's turn it over to you. what are you expecting throughout the rest of this earnings season. we haven't had any major blowoffs, but we're not talking about, you know, that great a situation in terms of revenue growth, right? how would you characterize the earnings period? >> well, i think this is really important. all of this is about expectations. we're coming out of this period where investors have ripped a quarter of a trillion dollars out of stocks in favor of bonds. now they are looking at that three-year performance number of let's say the aggregate bond index and the stock market, and they are saying, you know what? earnings, fiscal cliff, all of these things that have kept me on the sidelines, truthfully the expectations just aren't that high. we've already walked down the q4 numbers very quietly, and keep in mind we're hitting the new highs in the
ceiling impasse. he calls it a short-term debt limit extension. you may know it better as kicking the can down the road. which reminds me, there was someone just a few months ago who was famously against that kind of a deal. who was it? >> kick the can. kick the can. kick the can. >> right, of course. that's who it was. joining us is jonathan alter and jared bernstein. welcome to you both. john, we've seen speaker boehner's power getting weaker and weaker. is paul ryan now the de facto head of the gop? >> well, you know, actually, martin, i think he has been much more influential than people realize -- >> because he's been quite quiet publicly. >> going back to 2011. he has so much respect within that republican caucus. he's the guy who killed simpson/bowl simpson/bowles. he was on the simpson/bowles commission and wasn't willing to have any revenue increases. his fingerprints were not on it. and then when it came to the grand bargain, he told john boehner wait until the election. don't do this deal. so this is more of the same from him in his own relatively quiet way because he is much m
very much, tyler. as the deadline for the debt ceiling draws closer, many observers are worried if an agreement cannot be reached, the economy will be severely damaged. so can washington get its act together and what does it mean for people in business at the moment. joining us on cnbc, jim tisch. welcome to the new york stock exchange. >> always good to be here. >> it is a $17 billion group of companies you have. oil and gas, hotels. you're very broad based. what do you see at the moment? what does this rancor in washington mean for you as a businessman? >> well, my view is that the rancor means that the economy just can't get going at full steam. we've been growing at about 2% a year for the past four years and it looks like it's going to continue doing that. and so it's some growth but it's not nearly enough to really release the animal spirits in business men. >> are you investing in a moment? i see you buying hotels and investing in hotels here and there, but do you have major job creating investment underway? >> yes, we do in our parlar businesses. we're expanding in the h
of the upcoming debt ceiling and laid to waste by the end of the tax holiday. rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jelly sandwiches rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, double where we were not that long ago, and the analysts were determined to tell you housing is about to go all tepid, numbers don't fit into the scenario, not a negative one and that's the story of the market right now bullish backs getting in the way of the bearish story. now, i will tell you on any given day, we're capable of a serious swoon and we are due for one. holy cow. maybe dow and intel not so hot tonight can cause one sell, sell, sell. this feels like a moment like the mid 1980s where the bulls areaa lay boeing. it seems like when i was a young, curly haired kid. i want to see the amazing con colombia ra glomerate. one of those rare things, when you can get an audience with an investment titan. he heard i had a hot hand.
and more difficult. do you agree a with that? >> that's correct. i really do. i think the debt ceiling is a beautiful tool to get the president and congress to agree and to compromise and work things out and to bring down spending. i think that is right. it shouldn't be used to close down the country. that is just another tool, another political compromise in negotiations and it is a beautiful tool for that to bring the two sides together to bring out something that is good for all of us. bill: jerry nadler, a congressman from here in new york. he was the one said it was being used for political blackmail. that is where the comment came from. the debt ceiling has been in place since 1939. you have competing ideas, one on the house, john boehner said we'll raise the debt sealing a dollar for every dollar you cut spending. republicans out of pennsylvania, pat toomey you prioritize the bills you pay for long period of time. weeks and months. make sure the military is taken care of. >> sure. bill: would you back house idea or senate idea or neither? >> i think both are part of the negotiat
things. finally one last thing here, the difference between the fiscal cliff and debt ceiling. fiscal cliff we thought would be a 4% hit to gdp, and i don't know, 400, $500 billion. take a look now at what the debt ceiling would be, if you reached the debt ceiling and reduced government spending by that amount, mark sandy, others suggest it should be a 7% hit to gdp. so, simon, a big war of numbers, and big war of words on both sides, as we game out what happens, first with the debt ceiling, then we continue resolution, and also the sequester. simon? >> let's hope they rise above. thank you very much, steve liesman with the fiscal cliff. >>> it's been the trade of many people's lifetimes, but with the courages sill at multiyear lows. and the meeting next week, will the trade last? it's the "money in motion" section. good morning. >> good morning. good to be with you guys. what about this dollar/yen trade? obviously the dollar is substantially higher today, but monday/tuesday/wednesday, we've reversed the trend, the yen was actually higher. where do we go from here? >> i think steve's
noises about backing down from the debt ceiling fight. i know we're not here to talk about that, but it's interesting how the conventional wisdom has shifted on that. it's just another sign of the shifting sand. it all hinges on the american people turns. is he going to out to the country on his proposals? how much political capital is he going to put into it. if they feel pressure, he'll bring a vote. >> jennifer: i think he will too. to take you back not to the fiscal cliff but the debt ceiling issues that the republicans do seem to be going soft on. i do think one of the reasons why they went soft was because traditionally republican lobbying groups were coming out. i wonder if there are traditionally republican groups like law enforcement organizations, the police associations who might tend to be conservative, if they came out strong and spoke if the faith community came out strong and spoke, they may shake a little bit. let's talk about senator cruise thinks is going to happen as a result of the gun debate. >> i think the consequence i think he's going to pay a serious political p
Search Results 0 to 13 of about 14 (some duplicates have been removed)

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